$850,000

This Townhouse was built in 1877 is located in Mott Haven, a historic, rapidly transforming residential and commercial neighborhood tn the southwestern section of the Bronx. Mott Haven Historic District was the Bronx's very first designated historic district. It features well preserved 19th-Century brownstones, brick row houses, and Romanesque Revival/Neo-Greek architecture. It was developed in the 19th Century by Jordan L. Mott, inventor and industrialist. There was a mid-century decline, yet it remained anchored by a tight immigrant community. Because of the Land Preservation the buildings withstood demolition. This townhouse's maximum building area 4,400 sf and the current build is 2,360 sf, the full basement is 802 sq ft and it is above grade, height of the roof is 33ft, the residential FAR is 2.2, facility FAR is 4.8, current FAR 1.18, and the buildable area is 2,040 sq ft.In the recent years it has been becoming Gentrified. Major private and institutional investments and modern developments have drawn residents and real estate interest. This townhouse is a canvas waiting for someone to make it their own. Because of Landmark Preservation the exterior has been maintained. There is a very large garden in the rear of the home. The owners stayed within the laws. They gutted the interior with the intention of making it their desired residence. But you now have the opportunity to make it your own. The homeowner tax credit program offers a 20% state tax credit on eligible rehabilitation work with a minimum project cost of $5,000, and at least 5% of the project must be on the exterior. The credit does not expire (it will roll over from year to year), and under a certain income level will come back as a check. It is also possible to do multiple different projects through the program a $5,000 project one year and another the next. To get started, you just need to fill out Part I and II and mail it to our office. The process of using the program is relatively simple. Many people use the credit to replace roofs or mechanical systems or to paint. The work does need to be approved in advance. Ive attached the application for your reference. https://parks.ny.gov/preservation/programs/tax-credit/income-producingThere are several homes that have been gutted and renovated in the neighborhood. The neighborhood is tree lined, quiet and is primarily a residential community There is a growing culinary and arts scene, including The Lit Bar, an independent bookstore, The Bronx Brewery, Masonetta and community cultural hubs.The number 2, #5 and #6 subway lines, offers quick commutes to Manhattan. The newly renovated St Mary's Park is in the neighborhood. There is also a lovely children's playground. South Bronx Classical Charter School 11, P.S. 179 elementary, P.S. 154 Jonathan D Hyatt elementary school, NYC Montessori Charter School, Academic Leadership Charter, P.S./I.S. 224 middle school, Community School District #7, Mott Haven Academy Charter School, P.S. 49 Willis Avenue School and others are within the area.